Sparx Declines After Value of Japan Wind Development Slumps

June 17 (Bloomberg) -- Sparx Group Co., Asia’s biggest
hedge-fund manager, fell in Tokyo trading after a plunge in the
value of Japan Wind Development Co.

Sparx dropped 15 percent to 8,520 yen at the 3 p.m. close
on the Jasdaq exchange, the stock’s largest decline since May
last year. Sparx funds hold a combined stake of more than 10
percent in Japan Wind, according to Bloomberg data.

Japan Wind, the worst performer on the 88-member WilderHill
New Energy Global Innovation Index in the last year, sank 40
percent this week after being put under surveillance by the
Tokyo Stock Exchange.

It is on a so-called monitoring post for possible delisting
and in a June 14 filing said it is likely to miss a June 30
deadline to file an annual securities report because it changed
its auditor.

Masahiro Sugino, a spokesman for Tokyo-based Sparx,
declined to comment.